Bundle Sell & Buy with LJ Hooker Double Bay

Buying before selling is typically considered a riskier approach, but it can be a viable option, especially if you have substantial equity or available cash, and bridging finance may be a suitable solution to facilitate the purchase.

By buying a property earlier in a market with rising house prices, you have the potential to maximize your investment as property values increase, and you can also benefit from higher sale proceeds when you eventually sell. Additionally, buying before selling allows you to avoid the inconvenience and cost of renting or moving multiple times. Furthermore, if you have substantial usable equity in your current home, you can leverage it to secure financing for your new purchase.

On the other hand, to access a bridging loan or secure additional financing, it is important to have a significant equity stake of around 50% in your existing home, and careful financial planning is necessary to manage the obligations of multiple loans. Moreover, if you require borrowing 80% or more of the property's value, having a cash deposit of 5-10% is essential since the sale of your current property is pending, and the pressure to sell promptly might lead to accepting offers at lower prices.